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 If you like the idea of knowing that your mortgage payment will never change, then a fixed rate mortgage may be right for you. That's because these programs rate will never change over the life of the loan. Fixed rate programs are great for people who plan to live in their house for a long period of time, typically seven years or more, and who are on fixed incomes. Fixed rate mortgages can come in any number of maturities from five to forty years, however the most common are fifteen year and thirty year fixed. As a rule of thumb, the rate you will pay on a shorter maturity loan will be less than a longer maturity loan. The payment on the shorter maturity loans are higher however as the amount you are borrowing needs to be paid back over a shorter period of time. Fixed rate loans can either be conforming or jumbo loans. (Link to Conforming/Jumbo section) Contact one of our consultants to find out more.
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| 3/1 ARM |
5.375% |
| 5/1 ARM |
5.5% |
| 15 Year Fixed |
5.5% |
| 30 Year Fixed |
6.375% |
| 3/1 ARM |
5.375% |
| 5/1 ARM |
5.5% |
| 15 Year Fixed |
5.75% |
| 30 Year Fixed |
6.875% |
 | 7/01/08 6:13pm |
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